The Department of Economic Affairs, Ministry of Finance, Government of India, and United Nations Development Programme (UNDP) India launched the Sustainable Finance Collaborative (SFC) on Wednesday (August 26). The objective behind the collaboration is to work together to boost the country’s efforts on mobilizing sustainable and green finance. Before COVID, it was estimated that India needs over USD 2.6 trillion to meet the SDG targets by 2030. But public spending cannot bridge this gap alone. Mobilizing such a huge capital will require the collective efforts of both the public and private sectors. While financing the COVID recovery offers a unique opportunity to catalyze this collective action, these efforts must go deeper if this recovery is to be sustained. In its statement, UNDP India said: "The collaborative is conceived as a platform to bring together the experts and organizations and invest in our collective future. The financial and commercial landscapes have to re-orient themselves towards a more robust and overarching approach to SDG and Sustainable Financing if India has to truly ‘build back better’."
admin
Publication Date